HANOI: John Wu has been the ‘technology pillar’ of Alibaba for almost 10 years. The former technology director and a leading group of investors have poured nearly $3 million into Vntrip.vn – a Vietnamese startup operating in online hotel reservations.
Le Dac Lam, the founder and CEO of the startup, has confirmed the news. More Vietnamese startups have received huge investments from foreign investors in recent months.
“The investment came after the first round of capital call from foreign investment funds, and John Wu has agreed to stand side by side with us,” Lam said.
Established in late 2014, Vntrip.vn has established an online hotel network throughout Vietnam with cooperation of Booking.com, the world’s hotel reservation network belonging to the US Priceline Group with capitalization value of $65 billion.
Wu’s F&H fund says the business is valued at VND300 billion.
